June 26, 2008

New Flyer Industries Inc. (TSX:NFI.UN) (“New Flyer” or the “Company”), the leading manufacturer of heavy-duty transit vehicles in Canada and the United States, announced today that it has received orders over the last three months for up to 1,234 buses (1,567 equivalent production units or “EUs”) for a combined value of over US $706 million. Of these orders, 1,108 buses (1,406 EUs) are new orders and 126 (161 EUs) are exercised options.  When combined with orders reported in a March press release, New Flyer has announced a total of 2,487 bus orders (3,116 EUs) valued at over US $1.3 billion in 2008.

These orders are for a variety of vehicle configurations, including 35-, 40- and 60-foot buses with clean diesel, electric trolley, hybrid, and compressed natural gas (CNG) and liquefied natural gas (LNG) propulsion systems. These orders represent virtually every propulsion system available on the market today.

Tri-Met in

TransLink in Vancouver, BC has ordered 24 60-foot electric trolley buses (48 EUs) and exercised options for 10 60-foot electric trolley buses (20 EUs).

Valley Metro in Phoenix, AZ has ordered a total of up to 379 buses (firm and options), including 40’ and 60’ vehicles across diesel, CNG and LNG fuel types (385 EUs).

The Greater Cleveland Regional Transit Authority Board of Directors in Cleveland, OH has approved additional options for 20 60-foot hybrid buses (40 EUs).

Other new contracts and options total 593 buses (822 EUs).

New Flyer’s backlog as of the end of May 2008 was 8,233 EUs, which represents an increase of 19% in comparison to the 6,916 EUs in backlog at January 1, 2008. The value of the order backlog as of the end of May 2008 of US $3.45 billion has increased by 23% compared to the US $2.8 billion backlog at the start of 2008. The portion of firm orders included in the backlog has increased to US $1.3 billion as of the end of May 2008 from US $1.2 billion at January 1, 2008.

NOTE: All dollar amounts are stated in US currency based on an exchange rate of US $1.00 = Cdn $0.9882 to calculate the value of the Canadian contracts in this release.

About New Flyer

New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company’s three facilities -- in Winnipeg, MB, St. Cloud, MN and Crookston, MN -- are all ISO 9001, ISO 14001 and OHSAS 18001 certified. With a skilled workforce of approximately 2,300 employees, New Flyer is a technology leader, offering the broadest product line in the industry, including drive systems powered by clean diesel, LNG, CNG and electric trolley as well as energy-efficient gasoline-electric and diesel-electric hybrid vehicles. All products are supported with an industry-leading, comprehensive parts and service network. New Flyer’s Income Deposit Securities are traded on the Toronto Stock Exchange under the symbol NFI.UN. Further information is available on Company’s web site at www.newflyer.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of New Flyer and New Flyer Industries Canada ULC (“NFI ULC”) that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Due to the potential impact of these factors, New Flyer and NFI ULC disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

For further information, please contact:

New Flyer Industries Inc.
Glenn Asham
Chief Financial Officer
Tel: 204-224-1251

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